8-10k - what to do

devilivus

Hey.
I lost my job a few months ago.
Since then I have sent out about 2-4 CV's everyday for all kinds of basic local jobs advertised. Initially I would settlle for basic warehouse/admin work etc, but amazingly (and quite depressingly!) every application either doesn't get a response, or I get a rejection email, usually stating that they have had 600 applications and they chose someone else!

Anyway, I have a few thousand pounds saved from my wages, and I also have another few thousand on route to me from something else.

It will amount to about 8-10 K overall.

Do you think that this is enough to start a small business of some sort?

If so, what business would YOU personally start out of interest?
Even if it meant fulltime hours for a part time wage initially.

The other part of me in considering spending some of the money on courses to learn a new skill/trade - although im not sure im cut out of that. I dont mind hard work, but im not very 'technically' minded and I think a lot of the building trades (for example) would leave me out of my depth.

So - any busines ideas you'd personally be interested in trying if you had 8-10k and were looking to try to earn a little money?

soupdragon10

It might be worth having a look at the Business Link website - there is lots of information there about self employment and what it involves.

You need to make sure that it's something that you really want to do and enjoy, and if you have specific skills that you can use in a business.

I'm sure if people have good business ideas they will keep them to themselves.

DCFC79

Whatever you decide it needs to be something you would enjoy doing or have knowledge of,

you could a course but then if jobs require experience then how would a course help, i guess you mgiht get some experience when doing the course but if the employer wants work experience then how would you get round that

morganedge

DCFC79 wrote: »

but if the employer wants work experience then how would you get round that

How does anyone get around it other than gaining a qualification? What would you suggest.
Nobody would ever be able to start a new job in a new field if employers insisted that candidates have experience in the role already!

Not sure what i'd do with the money (business wise)

DCFC79

morganedge wrote: »

How does anyone get around it other than gaining a qualification? What would you suggest.
Nobody would ever be able to start a new job in a new field if employers insisted that candidates have experience in the role already!

Not sure what i'd do with the money (business wise)

wow i was just voicing my opinion,

maybe through work experience or if the course requires it a placement

my point was if person A has a qualification

and person B has 10 years experience then who do you think will be taken on, person B as he has the experience

morganedge

DCFC79 wrote: »

wow i was just voicing my opinion,

maybe through work experience or if the course requires it a placement

my point was if person A has a qualification

and person B has 10 years experience then who do you think will be taken on, person B as he has the experience

How did person B get 10 years experience if nobody was will to employ someone without experience?

Oldernotwiser

morganedge wrote: »

How did person B get 10 years experience if nobody was will to employ someone without experience?

I think that you're taking the thread off topic, which isn't helping the OP.

DCFC79

morganedge wrote: »

How did person B get 10 years experience if nobody was will to employ someone without experience?

i dont have a definitive answer, maybe they get experience by voluntary work but if no 1 is willing to take them in a voluntary capacity or some other role then how else will 1 get experience?

ive been there myself thinking i could get a job in a certain field with having done a college course and some voluntary work and it wasnt enough as we didnt covercertain things so im unable to move into that field unless i fork out more money for a better qualification but then i may be in same situation as i am now, i could do voluntary work but theres no guarantee it would give me experience in certain aspects that i may be asked to do in the job


sorry for taking thread of topic which wasnt my intention

benrsmith31077

It all depends on what you want to do. I know traders who started with £20 a couple of years ago and now turnover six figures a year. Conversly if you start a business with premises and staff, then your start up costs are going to eat into that 10k very quick, and you put yourself under pressure to start getting money in asap. Whether or not this is a good thing depends on your attitude to pressure.

As for what to do, chose something that you are interested in and have a passion for. Secondly do lots and lots and lots of homework in your chosen area. It will pay dividends in the furture! Join forums and professional bodies related to your area, soak up all news regarding it and make sure you keep up to date with developments (ie if you are flogging X product, you would want to know about a new 'must have' model/version/update/rival of X Product coming out and how it would affect price and 'sellability' of your stock)

Personally given £8-10k I would look at online retail. Put it into setting up my own website to sell a certain few things I am interested in to a fairly niche market. In fact that is exactly what I am saving to do at the moment!